Tuesday, 16 May 2017

EPIC RESEARCH NCDEX COTTON UPDATE OF 16 MAY 2017

Cotton trading range for the day is 20843-21683.Cotton prices ended with gains after USDA data showed lower stockpiles of the fibre amid higher consumption by mills. International cotton market is trading higher by 2% as ending stockpiles has been lowered passed two days. USDA projected decline in world's stockpiles by 2.4 million bales in the 2017-18 crop year for the third consecutive season. Cotton prices in spot market gained by 270.00 rupees and settled at 20590.00 rupees.

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